S1 Corporation is reviewing an acquisition
offer from payment systems provider ACI after receiving another
proposal.
At the beginning of August,
Electronic Payments reported that ACI was “willing to
complete the transaction” of acquiring software provider S1
Corporation.
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S1 had rejected ACI’s advances because it
already is in agreement with Fundtech.
ACI has been consistent in its plans to take
over the company, offering $9.50 per share.
On 26 August, after receiving a revised offer,
S1 said in a statement:
“S1’s board of directors will review the terms
of the revised proposal submitted by ACI in a manner consistent
with its obligations under the merger agreement with Fundtech and
applicable Delaware law and will consider such options or
alternatives that it believes to be in the best interests of S1’s
stockholders.”
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By GlobalData
